News
Broker Pavilion reports 53% profit increase
Pavilion Insurance Network has reported gross written premiums for the first half were up 53.98% to £1,400,915 (2005: £909,755).
Lycetts and Hamilton & Partners combine forces
Lycetts, the UK’s leading independent broker to the rural sector is combining with Hydra House the holding company for Hamilton & Partners, Hamilton & Partners (Ireland), as well as Highflyer Bloodstock Agency. The new holding company, Lycetts Holdings…
ABI announce their views on new FSA proposals for regulatory reform
The Association of British Insurers (ABI) have announced that the FSA’s consultation paper “Prudential Changes for Insurers” (CP06/16) is good news for the industry.
Treating Customers Fairly – a speech made by John Tiner
John Tiner, chief executive of the FSA spoke at the Asset Management Conference on 21 September about the FSA Treating Customers Fairly (TCF) programme.
Moody’s updates rating methodology for financial guaranty insurance sector
Moody's Investors Service has released an updated rating methodology for the Financial Guaranty Insurance sector.
IUA in Solvency II push
A new website has been launched by the International Underwriting Association to discuss Solvency II, the planned new European solvency regime for insurers.
Crawford updates fraud guide
Crawford & Company and Davies Lavery Solicitors have published the latest edition of ‘Fraud Investigation - a claim handler’s guide, Summer 2006’.
Aon Re poaches Fac boss from Benfield
Aon Re Global has announced that Elliot Richardson will be head of its global cedant facultative reinsurance activities.
FSA reports discrepencies between brokers and insurers over contract certainty
The Financial Services Authority has said that it will make a "final assessment" on whether the market has suceeded in meeting its challenge to end the practice of 'deal now, detail later' in January.
Law Commission may abolish consumer disclosure duty
The Law Commission is considering the abolition of the duty of disclosure, at least for consumers, under major proposals to overhaul current insurance contract law.
Ex L&G fraud boss to join VFM
Nick Sugden, formerly head of fraud management at Legal and General Insurance, is joining VFM Services in the role of business development manager on 1 October.
Alexander Forbes promotes Mitchell in Manchester
Alexander Forbes has appointed Peter Mitchell as the new head of its Corporate Risk Solutions division in Manchester.
2,000 to go by 2008 in Swiss Re-GEIS cull
World number one reinsurer Swiss Re has announced a programme of up to 2,000 job cuts worldwide by the end of 2007 as part of its bid to squeeze annual savings of $300m from its merger with GE Insurance solutions.
Former Axa UK boss joins Liv Vic board
Liverpool Victoria has appointed Mark Austen and Dennis Holt as non-executive directors, with immediate effect.
Sterling hires Pritchard as COO
Sterling Insurance Group has appointed Tony Pritchard as director and chief operating officer. Tony will lead the operational areas of the group including customer services, information technology and business support.
Marsh appoints northern regional sales leader
Marsh has appointed a new northern regional sales leader to boost development in the North of England and Scotland.
Swinton signs £70m refinance deal
Manchester-based broker Swinton has appointed Lloyds TSB Corporate Markets to provide its operational banking facilities.
Hardy buy-out approved by Lloyd's
Hardy Underwriting Group has announced that the Council of Lloyd’s has approved the application for consent to make a minority buy-out of the third party capacity currently remaining on Syndicate 382.
Announcement from Hastings Insurance Services
Hastings has announced, with deep sadness, that group financial controller, Duncan Ayre, has passed away after a short period of illness.
FSA fines former chief executive for failings leading to client money rule breaches
The Financial Services Authority (FSA) has today fined Paul Harrison, former chief executive of insurance broker Berry Birch & Noble Insurance Brokers (BBNIB) £17,500 for failing to implement proper systems and controls to ensure that customers' money…
Ordnance survey presents geographical intelligence tools
Insurers' ability to price risk with high-precision geographic information (GI) at their fingertips was a key focus of an exclusive industry seminar at the Lloyd's Building.
Oval completes 12th acquisition
Oval has bought the book of business of broker Wilkinson Rodgers in Huddersfield. It is the group’s 12th acquisition in just three years.
FSA slaps five-figure fine on former BBNIB boss Harrison
The Financial Services Authority has fined Paul Harrison, former chief executive of insurance broker Berry Birch & Noble Insurance Brokers £17,500 for failing to implement proper systems and controls to ensure that customers' money held by the firm was…
Price Forbes completes MBO from Marsh
Lloyd's broker Price Forbes & Partners, has completed a management buy out from its parent Marsh. Price Forbes & Partners is now a wholly owned subsidiary of PFIH Limited, a newly incorporated investment holding company that is owned and controlled by…